Best Money Saving Apps In Nigeria for 2022

What Are The Apps for Saving Money In Nigeria and Their Pros?

by Timileyin Precious
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best money saving apps in Nigeria

Are you curious about the best money saving apps in Nigeria? You want to save your money, especially when you consider the state of the country’s economy. There are so many tech-driven apps for saving money in Nigeria that allow you to do that with ease.

But hey! You have to be careful, right? There are scammers here and there. You are probably aware of over 200 (or maybe none) of those platforms. You most likely want to know which is most beneficial and safe.

Why Should You Save Money?

Perhaps, you do not see any necessity in saving. Perhaps, you are not convinced about this whole saving of a thing. Let us check out three good reasons why you should save.

  1. Emergency reasons

Who knows what may happen tomorrow? Except you have a superpower that allows you to peer in the future, there is no telling what may happen the next day. You could need money to go after a business opportunity you stumble upon. It could be for some health reasons. There are millions of other unforeseen circumstances that could make you need money urgently.

  1. Retirement

It is quite obvious that salary earning is most times not sufficient to last you till retirement. Every individual who properly considers future survival needs to save up. Saving up is like planting a money tree; you reap the benefits when those years finally come rolling in.

  1. Entrepreneurship and financial security

Did you know that saving comes up as one of the easiest ways to gain startup funds as an entrepreneur? One of those fundamental things to attain financial freedom is to save. You probably have plans to start your own business later someday, so why don’t you consider saving up for this.

Aside from the above, there are various other reasons why you need to save up. But if those are not strong enough to convince you, nothing else can. However, if you are convinced that this saving thing is for you and you need the best money-saving apps, then Voila Mon Ami! Dig in!

Join insight’s whatsapp community to enjoy tips on entrepreneurship and financial security.

8 best Money Saving Apps in Nigeria

  1. PiggyVest

Arguably the best money saving app in Nigeria, PiggyVest is a very cool platform. It catalyzes goal-oriented savings and makes saving fun. You are probably wondering why it tops the list of the best money-saving apps in Nigeria. Well! Besides saving your money, the features of Piggyvest (coupled with the very cool user experience) provide just the right attraction and motivation needed for successful saving.

6 Reasons Why You Should Use Piggyvest

  • You earn points for saving your money. As if that is not cool enough, these points are converted to cash, and you can withdraw them!
  • Another benefit of Piggyvest is that you can Autosave. Piggyvest has an autosave option that allows saving a stipulated amount of money on a predetermined basis.
  • There is something even cooler than savings! That is investing. A very beneficial feature of Piggyvest allows you access to a whole lot of (safe) investment deals. That way, you get to put your money to good use.
  • It helps promote goal-oriented saving. The penalty withdrawal Piggyvest makes when you default in your saving goal is enough motivation to encourage consistent saving. Nobody wants to lose money for failing to save up.
  • PiggyVest offers a good interest rate over your savings; higher than any average commercial bank can offer.
  • You can get up to $2(1000 naira) for referring a friend to use Piggyvest. Also, you don’t have money to start saving; you can start with that too.

Click here to install PiggyVest app and get N 1,000 referral bonus. 

  1. Cowrywise

Cowrywise is another giant on the list of the best money saving apps in Nigeria. It is a tech-driven financial management platform. On Cowrywise, saving, fin planning, and investment are easy and automated. Not to forget that their interest rates are amazing!

6 Reasons Why You Should Use Cowrywise

  • Cowrywise partners with a wide range of investment companies. This allows users the opportunity to invest with as low capital as possible.
  • Cowrywise has financial planning tools. This way, the users can optimally utilize their savings and the returns from their investment.
  • Cowrywise also offers a higher return on investment than commercial banks in Nigeria.
  • Cowrywise has something called mutual funds, a system that allows joint saving and investment. Is that not super cool? That way, you could save on big investment plans with your best friends.
  • Cowrywise has options that put religious beliefs into consideration. A major example of that is its Halal savings for Muslims who do not want their saving interests.
  • You can earn 250 Naira per referral you make on Cowrywise. Your referral becomes successful when the referee makes their first deposit.

CLick here to install CowryWise App and get N 250 referaal bonus. Ensure you use TAIWOJOR as your referral bonus to claim your 250 Naira reward.

  1. Jumia Pay

Jumia Pay allows for convenience, and that places it is on the list of the best money saving apps in Nigeria. This platform integrates payment of our major utility bills in Nigeria – making it very easy and automated. Below are some advantages you stand if you use Jumia pay – aside from saving your money, of course!

4 Reasons Why You Should Use Jumia Pay

  • You get to bypass the payment of bank charges on the payments you make. Isn’t that superb? Jumia Pay allows you to pay your fees with no extra charge attached.
  • It saves a lot of time and effort spent on paying bills. With Jumia pay, you don’t need to buy scratch cards or go to some distant offices to pay bills.
  • You automatically get a referral bonus of 1000 naira when you invite your friends to use Jumia pay.
  • Freebie! You can get free airtime on Jumia Pay if you participate in the spin and win the game on the Jumia pay app.

Click the link here to install the Jumia Pay App and also get 20% cash back on your first transaction on the app.

  1. Chipper

Chipper cash is one of the very innovative fintech platforms that came into the limelight in recent times. It is an integrated payment platform like Jumia pay – but with extra spice. Aside from payments, chipper cash is a very good place to save and invest your money in Nigeria. Below are some of the reasons why you may want to consider this app.

Read also: Business finance apps for business owners and entrepreneurs in Nigeria

4 Reasons Why You Should Use Chipper

  • Aside from just being a place to save, the Chipper app also allows you to invest with as low as $1. Superbright?
  • On the Chipper cash app, you not only can pay utility (and other) bills, you can transfer money to another user in another country! No western Union, No banking halls, Just Chipper cash app.
  • On the Chipper app, you can also buy and sell cryptocurrency (bitcoin especially). The special thing about that is the seamlessness. You have to try it out.
  • On the Chipper cash app, you can also earn 250 Naira upon referring your friends to use this app.

Click here to install the chipper app for free and get N250 referral bonus.

  1. VPD

Like some of the cool fintech apps above, VPD is a tech-driven payment platform. It was created to bypass the payment hurdles created by the traditional banking system. Aside from keeping your money here.

4 Reasons Why You Should Use VPD

  • It gives you unlimited access to free payments. You can make payments with no charges attached.
  • You can make borderless transactions with virtual cards.
  • VPD allows easy conversion between currencies.
  • VPD gives you a 500 naira referral bonus if you get your friends to use the app.

Click the link here to install the VPD app. Please use TCEYN4 as your referall code to ensure you also get the N500 referral bonus.

  1. ALAT

Even commercial banks aren’t slacking. ALAT is the first fully digital bank in Nigeria. It is a Wema Bank innovation. True to its name, you can do virtually everything you would do in a physical bank on the ALAT app – of course, it includes saving up your money.

4 Reasons Why You Should Use the ALAT app

  • ALAT makes saving much more fun with the saving goal feature. You can enjoy up to 4% interest on your savings.
  • It also allows you to save with your friends.
  • You can borrow standard loans with literally no paperwork on this app, No banking hall, no paper works, no bureaucracy.
  • You can earn 500 per referral on the ALAT app.

Click here to install the Wema ALAT Application. Please enter GVXCUGWH as your referral code.

  1. Luno

You probably have heard of the newest sheriff in town in the world of cryptocurrency. Well, if you haven’t, now you know. These days, it is advisable to save money in cryptocurrency, as Naira keeps devaluing every day. And this is exactly what Luno helps you with. As well as other apps for buying bitcoin in Nigeria.

Read also: How to avoid crypto scams as a Nigeria

Luno automates transactions of cryptocurrencies. It is an ideal wallet for any crypto you want to save. Luno offers referral bonuses to its users based on predetermined agreements. It is, with no doubt, one of the best money saving apps in Nigeria.

Click the link below to install the Luno App. Please use JAR5KE as your referral code to enjoy N250.

  1. Binance

Binance is a digital platform that automates transactions in cryptocurrencies. You can save up your money in cryptocurrency form in Binance wallets. On Binance, you can trade more than 150 cryptocurrencies fast and easily.

For traders of cryptocurrency, Binance offers a discount over the trades you make. As if all these cool features are not enough, Binance offers up to a 40% bonus on referrals. It deserves its spot as one of the best money-saving apps in Nigeria.


Nigeria has a particularly friendly fintech ecosystem. The competition for customer attention pushes all these startups to thrive at customer convenience. With all these benefits in place, what excuse do you have not to use money saving apps in Nigeria?

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About Author

Avatar of Timileyin Precious
Timileyin Precious
Akinmoyeje Timileyin Precious is interested in code, history and culture, and philosophy. He is a fellow at the African Leadership Institute. He does writing as a thing for the culture.

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